504 Gilbert Road, Preston, VIC 3072 | House for sale | OnTheHouse
 
FOR SALE
$1,250,000 - $1,320,000View Property Price Statement

504 Gilbert Road
Preston VIC 3072

Bedrooms: 3
Bathrooms: 1
Car spaces: 4
Floor area: 101m2
Land area: 860m2
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EOI Ending Fri 20 Nov 5pm | A Rare West Preston Opportunity with Boundless Potential

Positioned in the heart of West Preston, 504 Gilbert Road presents an exceptional opportunity for developers, renovators and visionary buyers seeking a substantial parcel of land in one of Preston's most tightly held pockets. Set on an impressive 860sqm (approx.) allotment with a frontage exceeding 15 metres, this is a property where the possibilities are as exciting as the location itself.
The scale of the land immediately sets this offering apart, providing an outstanding foundation for those looking to explore its significant development potential (STCA). Whether your vision is to create a multi-residence project, capitalise on the generous dimensions of the allotment or undertake a substantial transformation, the proportions and positioning offer an exciting canvas for the future.
Adding another layer of appeal is the enormous garage and workshop at the rear, offering an incredible amount of space rarely seen in residential properties. Its sheer scale presents endless possibilities for tradespeople, car enthusiasts, storage or those requiring an expansive workspace. Complementing this impressive addition is an underground swimming pool, creating a unique feature within the property's expansive backyard.
For those who appreciate beautiful period features, the existing residence provides the perfect starting point for a thoughtful renovation. With its character, substantial land and enviable West Preston address, there is also the opportunity to breathe new life into the home while preserving the charm that makes it so special.
Set within a highly sought-after location, moments from local shops, cafes, transport, schools and the lifestyle amenities that make Preston so desirable, this is a rare opportunity to secure a property with genuine scope to add value and create something remarkable.
860sqm (approx.) of opportunity. A substantial frontage. An extraordinary workshop. An underground pool. A location that speaks for itself.
504 Gilbert Road is a property with a future as compelling as its present.

Property Details for 504 Gilbert Rd, Preston

504 Gilbert Rd, Preston is a 3 bedroom, 1 bathroom House with 4 parking spaces. The property has a land size of 860m2 and floor size of 101m2. The place is currently for sale with Ray White Preston.

Building Type
House
Floor Size
101m2
Land Size
860m2
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About Preston 3072

The size of Preston is approximately 11.5 square kilometres. There are 30 parks, covering nearly 4.7% of the total area. The population of Preston in 2016 was 32851 people. By 2021 the population was 33790 showing a population growth of 2.9% in the area during that time. The predominant age group in Preston is 30-39 years. Households in Preston are primarily couples with children and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in Preston work in a professional occupation.In 2021, 57.30% of the homes in Preston were owner-occupied compared with 56.70% in 2016.

Preston has 21,895 properties. Over the last 5 years, Houses in Preston have seen a -8.66% decrease in median value, while Units have seen a 3.80% increase. As at 30 September 2026:

  • The median value for Houses in Preston is $1,148,190 while the median value for Units is $637,633.
  • Houses have a median rent of $700 while Units have a median rent of $600.
There are currently 88 properties listed for sale, and 49 properties listed for rent in Preston on OnTheHouse. According to Cotality's data, 833 properties were sold in the past 12 months in Preston.

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Ian Dempsey
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Anthony Pasinetti
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Ray White Preston
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